The eyes of the mining giant of iron ore market

June 6, 2012 - PRLog -- FMG chief executive of iron ore prices have peaked

He said that the current sustainability of 130-150 U.S. dollars per ton of iron ore prices higher.

Vale suffered from iron ore price fall
It was reported that Vale is suffering from iron ore price decline, because of its grade of 62 percent of China iron ore spot price has dropped to 132 U.S. dollars / ton (CFR), down 11 percent from mid-April. The industry, said the Chinese steel mills is more likely to purchase low-cost iron ore spot resource rather than a higher price fixed contract resources, Vale is currently actively promote the construction of the iron ore transit center in the Philippines and the Amen, the other transit sales center in Malaysia will also be completed in 2014.

BHP Billiton CEO: iron ore and steel industry, the rapid development stage has passed

This is Kloppers (MariusKloppers served as the first five years of the world's largest mining company, BHP Billiton (BHP Billiton chief executive officer of the outsider, he is very lucky, are catching up with the most productive in the history of mining demand a period of time.

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BHP Billiton profit level at its peak, he commanded will be the Billiton taken a bold, radical action to break the long iron ore price agreement mechanism, the iron ore price has become more "accurate" according to him, while iron ore Stone prices is one of the most important source of BHP Billiton profit growth over the past few years.

Kloppers has been stressed in the process of implementation of the index pricing, the market will play its role to guarantee supply, prices to be determined. Now he is still stressed the role of the market, but the iron ore market has changed. Chinese real estate and infrastructure boom receded, the steel industry due to serious production overcapacity into industry-wide losses. The good old days of the upstream resources companies how long? May 29, Kloppers in Beijing I interviewed, showing the careful and rational attitude. "Iron ore has passed the stage of rapid development of steel industry" Kloppers said.

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Earnings and cash flow to reduce the iron ore business has affected the capital expenditure plans of BHP Billiton. The next six months, BHP Billiton will not approve any significant project investment, including the closely watched four large projects: the Olympic Dam copper, shale gas project in the United States, Canada's potash project and Australia's Outer port expansion plans. These four projects is expected in the next 15 years the cost of up to $ 120 billion.

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Bid farewell to the iron ore super-boom cycle, for BHP Billiton to develop new business areas, including gas, oil and potash. His demand for these resources and market outlook remains positive and the most effective allocation of these resources assets, he thinks the biggest challenge they face.

The same with the previous Chinese demand remains critical of BHP Billiton. "Undoubtedly, the situation in China is good, like BHP Billiton, and vice versa, the fate of BHP Billiton and China are closely linked." He said.